Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

32
Posts
5
Votes
Devin Bost
5
Votes |
32
Posts

Legal under RESPA to control loan officer used?

Devin Bost
Posted

I heard that it can be advantageous for a real estate agent or broker to ensure that buyers are required to use the broker's recommended loan officer or mortgage company unless the buyer is willing to provide an additional earnest deposit. The purpose is not to provide any type of kickback. The purpose is to ensure that the selling agent doesn't end up with a passive-aggressive or incompetent loan officer who creates unnecessary delays or fails to ensure that the sale of the property will close. However, as I'm learning about many restrictions under RESPA, I'm wondering if such a practice would be illegal. 

Most Popular Reply

User Stats

17,434
Posts
30,089
Votes
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,089
Votes |
17,434
Posts
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

No. You can recommend but not require. 

business profile image
District Invest Group
5.0 stars
44 Reviews

Loading replies...